Mike Arnold
Long only, small-cap, tech, growth at reasonable price

Brookfield Office Properties Is An Out Of Favor Real Estate Play

Brookfield Office Properties (NYSE:BPO) ("Brookfield" or "the company") is an out-of-favor and undervalued owner/operator of best-in-class office real estate. Brookfield owns a global set of office property, comprised of 110 properties and 80 million gross leasable square feet, in very attractive markets around the world, including the United States, United Kingdom, Canada and Australia. Therefore, Brookfield offers a pure play on a specific sector within the real estate asset class, whereas its majority unit holder Brookfield Property Partners (NYSE:BPY) has a more diversified asset base. In my view, because Brookfield is levered to the office sector, it is a low risk bet on a global economic and labor market recovery collateralized by valuable real estate. If...

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